Russian Ruble Speculators Pushed Bullish Net Positions Higher This Week
Zachary Storella | Sep 17, 2017 04:14AM ET
Russian Ruble Non-Commercial Speculator Positions:
Large currency speculators advanced their net positions in the Russian Ruble futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Russian Ruble futures, traded by large speculators and hedge funds, totaled a net position of 5,232 contracts in the data reported through Tuesday September 12th. This was a weekly increase of 4,746 contracts from the previous week which had a total of 486 net contracts.
Ruble speculative positions improved for a fourth week and are in bullish territory for a second consecutive week after a stay of ten straight weeks in bearish territory.
Russian Ruble Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -5,733 contracts on the week. This was a weekly loss of -4,796 contracts from the total net of -937 contracts reported the previous week.
RUB/USD:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the RUB/USD Currency Pair closed at approximately $0.0173 which was a decrease of $0.0001 from the previous close of $0.0174, according to unofficial market data.
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